How To Pay for College: 7 of the Best Money Saving Tips

How To Pay for College

How to pay for college is a question on many parents’ and students’ minds. With costs rising at well above the national rate of inflation, many are looking for solutions. Sometimes it can be overwhelming thinking about college just because the costs are so high. We’ll run through different tips that could help make college costs easier for you to handle.

Grants From the Government

Many states offer grants (that you don’t need to pay back) that you can take advantage of today. These grants can go a long way towards helping you with your college costs. If you DON’T complete an application for a grant, you’re likely to leave behind thousands of dollars on the table (according to a study done by Sallie Mae).

Financial Aid From the School

Many schools across the US offer need-based financial aid, meaning they will help you cover the portion of your tuition and college costs that you can’t afford. Before accepting any offer to a college, always check with their financial office whether or not you’re eligible for financial aid. Be sure to research the terms in detail.

Scholarships

 A scholarship is a grant or payment made to a student to support their education, awarded based on academic or extracurricular achievement, and (if used right) can go a long way towards helping you pay for college. A lot of scholarships do indeed go towards athletes and other “accomplished” individuals. Still, you might be surprised to learn that you can get scholarships doing pretty simple tasks.

Student Loans

If you aren’t eligible for any financial aid and can’t access any grants, you can still get help paying for college through student loans. When considering student loans, always prioritize federal loans over private ones.

Cut Costs in College

When it comes to paying for college, people often focus on how much more money you can MAKE to cover your costs and fail to remember that the other side of the equation is equally important. If you look hard enough, there are usually plenty of opportunities to save money during college.

Choose An Affordable School

Sometimes, the right move (financially and learning-wise) is to choose a public university and skip the private, more expensive option. Nowadays, many private universities don’t provide that much greater advantage to you than public universities. 

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